First Step: In a large mixing bowl, beat 1 can (14 ounces / 397 grams) sweetened condensed milk and 1 ½ cups (355 ml) ice-cold water for 1 minute until smooth. Add 1 package (3.4 ounces / 96 grams) instant vanilla pudding mix and beat for 2 minutes until well combined. Cover and refrigerate for 3-4 hours or overnight to set.

Second Step: In a separate bowl, whip 3 cups (720 ml) heavy whipping cream until stiff peaks form. Gently fold the whipped cream into the chilled pudding mixture until fully combined.

Third Step: Use a large glass bowl, trifle dish (4-5 quart capacity), or a 9×13 inch baking dish for assembly.

Fourth Step: Layer one-third of the 1 box (12 ounces / 340 grams) vanilla wafers on the bottom, overlapping as needed. Add one-third of the 4 cups sliced bananas over the wafers, then spoon one-third of the pudding mixture evenly over the bananas. Repeat these layers two more times.

Fifth Step: Garnish the top with additional wafers or wafer crumbs. Cover tightly with plastic wrap and refrigerate for at least 4 hours, but no longer than 8 hours, to allow flavors to meld and firm up.